GCP share raise boosts income

Michael Bow is a reporter at City A.M. covering private equity, funds, investments and asset managers. He can be reached on michael.bow@cityam.com

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Michael Bow

THE UK’s only listed British-focused infrastructure fund GCP Infrastructure Investments yesterday said it boosted half year profits due to a successful capital raise last year.

The company, which raised £144.4m in October 2012 to double its size, said profits for the period between October and March rose to £6.4m from £1.7m a year ago due to an increase in its asset base driven by the capital raising.

Chairman Ian Reeves said the ongoing lack of debt availability for UK infrastructure projects, meant the GCP fund remained a “highly sought after product”.